Swiss National Bank Has $15.52 Million Holdings in Bio-Techne Corp $TECH

Swiss National Bank trimmed its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 32.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,600 shares of the biotechnology company’s stock after selling 146,500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Bio-Techne worth $15,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. AlphaQuest LLC bought a new stake in Bio-Techne during the 1st quarter worth approximately $34,000. Allworth Financial LP boosted its stake in Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Bio-Techne during the first quarter worth $41,000. First Horizon Advisors Inc. increased its stake in shares of Bio-Techne by 134.6% in the second quarter. First Horizon Advisors Inc. now owns 868 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 498 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Bio-Techne by 1,239.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 855 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $64.63 on Thursday. The firm’s 50 day simple moving average is $59.62 and its 200 day simple moving average is $54.77. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $79.28. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 140.50, a P/E/G ratio of 3.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $286.56 million during the quarter, compared to the consensus estimate of $292.02 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. As a group, sell-side analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be given a $0.08 dividend. The ex-dividend date is Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Bio-Techne’s dividend payout ratio is currently 65.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TECH shares. Weiss Ratings restated a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th. Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. UBS Group boosted their price objective on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Cowen reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.